Teddy Group Our history
Our history
ORIGINS
In 1961 Vittorio Tadei, who is the sole administrator of the Teddy company today, left his job as a public accountant to help his family in their clothing shop in Riccione. He was so successful at his new job that after a few years he created a small workshop specializing in the design and production of knitwear to be sold in his family store.
EVOLUTION
In the 70s, a dozen stores were opened in the Marches region, marking the beginning of a wholesale clothing and knitwear distribution. This became the roots of the Terranova® Retail Division, a historic first step that introduced some professional figures into the picture who are still an active part of the purchasing department and sales network today.
These were also the years that witnessed the first sales in Germany, a country that continues to receive large amounts of stock even today.
TRANSFORMATION
In 1981 Teddy Srl was formed (becoming an SpA in 1992) and was destined to provide stability to the rapidly expanding business venture. The second half of the 80s was marked by great changes in business structure and strategy. Most of the employees and collaborators were hired, and today these employees make up the heart and soul of the organization. During the 15 years that they have spent with Teddy, they have contributed greatly to the formation of the company’s unique corporate strategy and code of conduct, and they have reaped the benefits of their contribution.
In 1988, the Terranova® trademark was acquired, creating a new business venture – the development of an affiliated store network. Flexible, dynamic and international, this new venture responded perfectly to the challenges of a new market that was continuously changing to become more and more unpredictable and unstable. The administrative offices and production were united and several important goals were reached: 38 employees became permanent, turnover was recorded at 8,000,000 Euro and more than 700,000 garments were sold.
GROWTH
In 1990, a geographical diversification strategy was begun with the opening of the first European stores in Spain and Yugoslavia.
In 1991 the wholesale distribution was transferred inside block 4 of the Centergros di Funo di Argelato (in Bologna).
In 1992, expansion was underway in East Europe as the first stores opened in Hungary, Slovakia and Bulgaria. From 1993 to 1996, the results of these years and past years have been consolidated, and the Terranova network now included 92 single brand stores around the world, 18 of them being located outside of Italy and in the main Eastern European capital cities (Prague, Budapest, Bratislava, Belgrade and Sofia). Teddy’s turnover exceeded 50 million Euro.
1997 saw the inauguration of 20 new Terranova® stores; expansion outside of Italy continued with the new openings in Warsaw and Zagreb, increasing the number of stores located outside of Italy to 27.
In 1999 a new Retail project was developed inside the Bologna Wholesale division - the Rinascimento® trademark was born, with the objective of creating a new network of brand-loyal stores that would be able to take on the challenges coming off of the new global market.
TODAY
In 2005, Teddy stronghold of the Terranova® success, launches Calliope®. This new brand, with its refined and dressy style, aims at conquering more customers and providing the means for more Terranova® franchisees to create a true network of stores in their own area. To complete the work Terranova®Kids comes into life, a clothing line targeted at baby and children up to 13 years old, opening 20 stores worldwide in a few month's time.
In 2007, at it's 47th anniversary of existence, Teddy celebrates its 500 stores.
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